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Questiona Tiger Farm Supply Company manufactures and sells a fertilizer called Snare. The following data are available for preparing budgets for Snare for the first two quarters of 2020. 1. Sales Quarter 1, 27,000 bags quarter 2,40,000 bags. Selling price is 557 per bag. 2. Direct macerals: Each bag of Snare requires 4 kg of Gumm at 54 per kilogram and 6 kg of Threats1.50 per kilogram. 3. Desired Inventory levels Type of Inventory January 1 April 1 July 1 Shane (bag) 9,000 13,000 19,000 Gm 10,000 10,000 13,000 tart (9) 12.000 21.000 26,000 4. Direct labour: Direct tabour time is 15 minutes per bag at an hourly rate of 516 per hour 5. The company expects selling and administrative expenses to be 15 of sales plus $174,000 per quarter. 6. It expects income taxes to be 30% of income from operations. Your assistant has prepared two budgets: (1) The manufacturing overhead budget shows expected costs to be 150% of direct labour cost. (2) The direct materiais budget for Tarr shows the cost of Torr purchases to be 1296,000 in quarter 1 and 5138,000 in quarter 2. Prepare the following operating budgets by quarters. (Note: Classify items as variable and fixed in the selling and administrative expenses budget.) Do not prepare the manufacturing overhead budget or the direct materiais budget for Tart Prepare the sales budget by quarters. TILGER FARM SUPPLY COMPANY Sales Budget For the Six Months Ending June 30, 2020 Quarter 1 2 Expected sales in units Six Months Unit selling price Total sales $ Prepare the production budget by quarters. TILGER FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2020 Quarter Six Months 2 D